Yes. And more on FR should understand that this is something that really might be fault of the oil man in the White House.
In 6 years, there has been almost no leadership on the oil issue. No incentive to increase refinery capacity, no WH-led push to increase domestic production, no coherent oil policy, no nuthin'. Of course, you can blame it on Environmentalists and Democrats and Arabs and Chavez and Mexico. Bottom Line: No Bush Leadership on the issue.
Instead, what do we have? This ethanol nonsense again.
Newsflash: Corn requires lots of POL to produce.
This is a very poor example of supply and demand. The supplies of crude oil are at an 8-year high. The distribution is controlled at the refinery level, with us having the same refining capacity we had in 1960.
THanks, W! You're a'fixin' to leave us with your legacy: $5 gasoline, a Democrat Congress, and Hillary as our next president.
this has nothing to do with supply and demand.
the problem is, every two years,
the gasoline laws change
Not only him, but back right before the first gulf war Maggie Thatcher tried to get Bush Sr. to get the Saudis to sign an agreement setting the price of oil at $35 a barrel for the next 100 years for the US as part of a compensation package for protecting them.